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2018 (1) TMI 1078 - HC - Income TaxComputation of exemption u/s 10A - sight consultancy services expenses, Telecommunication expenses, travel expenses, expenses borne by the customers of the Assessee Company on behalf of the Assessee Company need to be reduced from Total Turnover while computing exemption - ITAT allowed the claim as relying on HC decision against which there is a pending of Special Leave Petition before the Apex Court - Held that:- Appellate Tribunal while dismissing the Appeal preferred by the Appellant-Revenue first relied upon a decision of this Court [2011 (6) TMI 769 - BOMBAY HIGH COURT] and while deciding the said case, relied upon a decision in the case of CIT vs. Gemplus Jewellery Ltd. [2010 (6) TMI 65 - BOMBAY HIGH COURT] wherein held what is excluded from `export turnover’ must also be excluded from the `total turnover’ Referring to Appeal preferred by the Appellant Revenue against the decision of this Court in the case of Gemplus Jewellery Ltd.(supra) is pending before the Apex Court, the law is very well settled. So long as the decision of the Coordinate Bench of this Court is not set aside by the higher Court, all Coordinate Benches of this Court continue to be bound by the said decision. Even if a judgment of the Coordinate bench is stayed by the higher Court, as far as this Court is concerned, it continues to be bound by the judgment. No substantial question of law arises Not allowing set off of the loss incurred by the Assessee Company from the Non-STPI Unit with the profit of the STPI Unit to arrive at the profits of the business eligible for exemption u/s 10A - Held that:- Appellate Tribunal has followed the decision of Karnataka High Court dated 9th August, 2011 in the case of CIT vs Yokogawa India Ltd.[2011 (8) TMI 845 - Karnataka High Court] also confirmed by Apex court[2016 (12) TMI 881 - SUPREME COURT]
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